London law firm Lawrence Graham says users of dispute resolution services should be aware of pitfalls arising in relation to claims for interest under the Arbitration Act 1996. In its latest shipping newsletter - dubbed Shipping Lawgram - Lawrence Graham's shipping team comments on the Commercial Court case of Walker -v- Rowe, in which it was held that the courts had no power to make an order for interest to be paid on unpaid arbitration awards unless the interest had actually been set by the arbitrators. Lawrence Graham notes that, under the 1996 Arbitration Act, a party seeking post-award interest must apply to arbitrators to provide for it in the award and, if the arbitrators forget to award it, must immediately apply for a correction or a further award.
